Rio's Argyle Phoenix diamond fetches $2 million

Rio Tinto has sold a 1.56 carat Fancy Red diamond for $2 million during this year's Pink Diamonds Tender, the highest per carat price ever paid for a diamond from Rio's Argyle mine in Western Australia.

Bids for many of the 64 pink, red and blue diamonds on offer in the 2013 Tender eclipsed $1 million, setting new sales records for the company.  All of the diamonds in the tender were sold.

"We are delighted with the results for the 2013 tender collection which are a reflection of their rarity, provenance and global reach," Rio Tinto Diamonds managing director Jean-Marc Lieberherr said.

Rio's Argyle mine produces about 90% of the world's rare pink diamonds.